Monday, April 21, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Sharp Improves LCD Viewing Angle With New Optical Film
Ex-Apple CEO To Sell Mobiles In India
HTC Hired Ex-Samsung Marketing Officer
Xbox One Wolrdwide Sales Cross 5 million
Samsung Works With GLOBALFOUNDRIES On 14 nm FinFET Offering
Facebook To Find Nearby Friends
Console Sales Lift AMD's First Quarter Results
LG Expands 'Second Screen' TV Ecosystem With Open-Source SDK
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > General Computing > Panason...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, May 10, 2013
Panasonic Sees Recovery Besides Loss


Panasonic on Friday reported a net loss of 754 billion yen ($7.5 billion) for the fiscal year through March due to restructuring costs and slumping sales. However, the electronics giant predicted a return to the black this year.

The company has been dealing with plunging prices, the strong yen, an ailing TV business and strong competition from Samsung.

The reported net loss was mainly due hefty restructuring expenses, including impairment losses as the company wrote down the value of assets related to its solar, lithium-ion and mobile phone businesses.

Sales declined 7 percent during the year to 7.3 trillion yen, the company said in its financial results, citing a "severe business situation" in the electronics industry, including sluggish demand for flat-panel TVs.

Panasonic will eliminate its unprofitable businesses within the next three years.

For this fiscal year, it projected a net profit of 50 billion yen ($500 million).

Panasonic does not intend to easily quit the TV business, although sales of its plasma TV had fallen by about half, while LCD TVs suffered a 3 percent decline. The company said it plans to restructure its TV, semiconductor, mobile phone, circuit board and optical product businesses so that they will become profitable by fiscal 2016.

Panasonic, which has been shifting its business from consumer electronics to focus more on operations that cater to other businesses such as batteries and solar panels, remains strong in household appliances, with sales of refrigerators and washing machines both growing during the year.


Previous
Next
Sharp To Axe 5,000 Jobs: report        All News        Icahn, Southeastern Make New Proposal For Dell: report
Sharp To Axe 5,000 Jobs: report     General Computing News      Icahn, Southeastern Make New Proposal For Dell: report

Get RSS feed Easy Print E-Mail this Message

Related News
Panasonic Solar Cell Achieves World's Highest Energy Conversion Efficiency
Panasonic Develops New Multi-Mode Wireless Communication Technology for Sensor Networks
Panasonic Introduces 4K Wearable Camcorder
Panasonic Space Player Combines Ambient Lighting With Video Projection
Panasonic Develops First Bamboo Plant Opal Loudspeaker
Panasonic Unveils To Toughpad Handsets At MWC
New Panasonic LUMIX GH4 Mirrorless Camera Shoots 4K Video
Panasonic Reports Operating Profit For 3Q 2013
Panasonic Unveils Personalized 'Beyond Smart' TVs At CES
Panasonic Announces 20-Inch Toughpad 4K Tablet
Sony and Panasonic Cancel OLED TV Partnership: report
TowerJazz and Panasonic To Create Joint Venture for Manufacturing Panasonic Products

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .